Little Falls transcript. [volume] (Little Falls, Morrison County, Minn.) 1876-1894, 1887-04-15
Vast Accumulat ions of British
Capital.
From the Argonaut- .

From the ArgOnaut-
Some months ago the Guinness
brewing firm, of Dublin, converted
their concern into g. stock company,
and a large number of the shares were
disposed OF to the public, through
Messrs. Barring Brothers OF London,
who cleared about q million pounds by
the operation. Although onlysix mil
lion pounds worth ofshares We're offer
ed, yet the applications for allotment
amounted to over one numbered and
twenty million pounds. Shortly after
this it was made public that the firm
OF Samuel Allsop & Sons-also in the
beer line, it might Observation-Disclosures
make a similar conversion, but some
legal bitches occurring, action was
supposed to have been postponed I'M
til after Easter. However, on Thurs
day, February Sd, in the middle of a
panic on the Paris Bourse, with every
one recklessly unloading speculative
shares on the stock exchange, selling
at any price to realize, the London
and Westminster Bank announced
that on the following Monday they
would receive subscriptions for one
million, four hundred and sixty thou
sand pounds in shares and deben-
lures OF Samuel Allsop & Sons, Limited.
1t was a most unfayorable moment
for the announcement yet on the
same day they were compelled
to stop issuing prospectuses,
after which the prospectures were sold
by hawkers at a shilling each, and the
were called upon to clear the police
street from the crowd collected at their
offices. Before Monday the bank an
nounced that they could receive no
more subscriptions, those already re-
ceived having filled room, coming
from many thousand persons, largely
from the country, and aggregating
over one hundred million pounds. On
Friday the sh ares were dealt in on the
Stock Exchange, reaching four and
hall per cent. premium on ordinary
shares, although it was two days
prior to their existence. The deben.
lures are first charge on the proper
ty and four and half per cent. inter
est; next come the preference shares,
on which six per cent. dividend is
guaranteed, The ordinary shares can
receive nothing from the profits until
both of the other demands are
satisfied, yet the applications
were chiefly for ordinary shares.
These cases show that English invest
ors have ON abiding faith that people
will drink beer though the heavens
fall, but itfurther shows the enormous
! amount OF money in England seeking
investment. This money is held by
! people who desire u safe investment
in ren1unerative security which will
not require their personal attention,
nor involve more labor than that of
| dividends. That such remunerative
security which will not require their
personal attention, nor involve more
| labor than that of drawing dividends.
| That such remunerative securities are
| not over plentiful in England may be
seen from the fact that United States
| four per cent. and four and half per
cent bonds are quoted in London at
about three per cent. higher than they
are in New York, or at O. price at
which the four per cent. which will be
| called in in twenty years, will pay but
| about three and one-eighth per cent.
| on the investment. Consols, too,
which bear only three per cent. inter-
| est, are quoted at one and fve-six-
| teenths per cent. premium, even with
the present possibility OF the conntry's
! becoming involved in q general Euro
| pean war.